This book addresses the fundamental issues underlying the debate over electric power regulation and deregulation. After decades of the presumption that the electric power industry was a natural monopoly, recent times have seen a trend of deregulation followed by panicked re-regulation. This important book critically analyses this controversial area from a legal and economic perspective.

• BOOK COVER 2
• HALF-TITLE 3
• TITLE 5
• COPYRIGHT 7
• CONTENTS 9
• LIST OF CONTRIBUTORS 10
• STATEMENT OF SCOPE 12
• 1. INTRODUCTION 13
• 2. IS ANYTHING NATURALLY A MONOPOLY? 21
• 3. THE ORIGINS AND DEVELOPMENT OF ELECTRIC POWER REGULATION 51
• 4. THE REGULATORY CONTRACT 83
• 5. THE ZENITH OF THE NATURAL MONOPOLY SYSTEM 95
• 6. WHITHER NATURAL MONOPOLY? THE CASE OF ELECTRICITY 116
• 7. UNIVERSAL SERVICE IN COMPETITIVE RETAIL ELECTRIC MARKETS: REFIN(ANC)ING THE DUTY TO SERVE FOR A POST-NATURAL MONOPOLY ERA 144
• 8. STRANDED BENEFITS VERSUS STRANDED COSTS IN UTILITY DEREGULATION 170